Let's face the facts:
- Bitcoin utilizes an exorbitant amount of energy.
- Bitcoin has consistently followed the stock market moves (which is overdue for another March style selloff)
- Crypto-Currency Market is in a massive bubble, with over 7,000 coins all competing with each other. They all claim to do what they do, faster, cheaper, and better than the next.
I predict that between August and November you will see the following:
- Rise in unemployment.
- Rise in defaults, bankruptcies, foreclosures.
- Rise in civil unrest and crime.
- The largest sell off of equities ever seen.
- The EuroZone entered the Covid Pandemic already in recession. The Bloc economically is far worse than the United States, and the Euro Zone will be the first to fall.
- The United States economy is by far much worse than 2008, even matching or eclipsing Great Depression levels in certain sectors and statistics.
- All countries have pressed Maximum Print on their fiat printers, and will cause world wide. We may see a short period of deflation, followed by hyper-inflation. Keep in mind, it took Zimbabwe to go from $1 denomination to $100,000,000,000,000 notes in just one year.
- Proposed changes to society and laws will have a negative impact on society, causing further division and unrest.
We have studied not only economics but also demographics. And all I can say at this point is, it's been fun, those who made money with Bitcoin and stocks, congrats. November will be a time like we who are alive have never experienced before. Demographics and current events point to a calamity soon to take place not only in the United States but around the world. We will be a part of a global depression, in which we will see major fiat currencies like the US Dollar , Euro , Yen, and Yuan fail. The elite at the World Economic Forum have called for a global reset on money. I believe we will see a new world monetary standard established out of the crisis, as fiat will be a thing of the passed. China has already digitized their Yuan. We will see digital money, but, it will NOT be crypto-currency. We believe that crypto has been the worlds largest test of digital money. The creator coincidentally happens to be unknown, but, based on how crypto required extensive identification requirements and taxation, we can safely say this was a united government creation.
Just keep an eye out, remember this chart and prediction. This isn't a doom and gloom chart, or prediction.. this was taking a step back, monitoring current and passed events, adding demographics into the mix, as well as seeing what world leaders are calling for and making this prediction. Take it with a grain of salt, out right refuse it, it doesn't matter. Watch and see!
We agree BTC is due for a correction to at least 8k before breaking to the upside.
The current low market interest might lead to a prolonged correction, and the more times we fail at breaking up, the more bearish BTC looks for the short-term. CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop), and it has been dropping significantly since BTC attempted 10k. This makes it very hard to argue the short-term bull side.
Do you agree with our wave count?
Also your chart have gaps. I hope u know there are no gaps in crypto's.